Trader J ITEC
Bought some more @ close. Didn't find out
to later after close. 3 3/4 a little
more than I wanted to pay.
Noticed how CNBC held off mentioning
ITEC until right before close..
34.5 mil traded,,,,,,I don't think this is over yet..
Squawk Box next...Who knows?????
Newbies make sure you take your profits,,
The risks get higher tomorrow.
There is always another train leaving the
station..
Banchee
Tuesday January 26, 4:02 pm Eastern Time
FOCUS-Imaging shares surge on Web site forecast
NEW YORK, Jan 26 (Reuters) - Shares of Imaging Technologies Corp. (Nasdaq:ITEC -
news) tripled in unusually heavy trading on Tuesday after the San Diego company said it
expects sales to jump at its web site that sells computer products over the Internet.
The stock was the most active issue on the Nasdaq with more than 28 million shares traded. The stock was also the Nasdaq's
top gainer on a percentage basis, rising $2.50 to $3.75.
Imaging Technology said its web site, www.DealSeekers.com, has already seen steady revenue growth since its debut last fall.
It expects sales at the site, which sells computer and imaging hardware, software and consumables, to double in the next 90
days and expects an annualized sales rate of $10 million by the end of the calendar year.
Traders said that most of the interest was on the retail level, not from institutions, noticing generally smaller lots of shares
changing hands.
Interest from Internet investors was at a fevered pitch, one said. Some of the top market makers in the stock were those that fill
Internet trades, such as Herzog Heine Geduld and Mayer Schweitzer.
A spokesman for Imaging Technologies, Bruce Ahern, said the advertising would most likely be over the Internet. He said no
advertising firm has yet been chosen. |
